Banaian; Gas Prices Likely to Drop After Labor Day
St. Cloud State Dean, School of Public Affairs and Economics Professor King Banaian joined me on WJON today. He expects gas prices to remain fairly steady until Labor Day where he expects a slight increase. Banaian says demand is expected to be reduced after Labor Day which will lead to a slight drop in gas prices. He says the gas blend changes in November in Minnesota which is expected to affect gas prices but it is hard to say this far out how it will be affected. Banaian the gas supply is likely to increase this month but he doesn't expect a drop in prices this month due to heightened demand.
For the past year and a half lumber has been hard to come by. Banaian says lumber supply has increased which has led to a drop in lumber prices. He says this helps with new home construction and helps the housing industry. The home sales market has been a sellers market with still fewer homes for sale for the those looking to buy. This has led some home owners who rent properties to look to sell those properties due to increased home prices.
The eviction moratorium is set to end throughout the country. King doesn't think it's in the best interest of most landlords to evict renters who have fallen behind on their rent. He says it will likely be difficult to find replacement renters. He says the homeless population increase is a concern and that it is difficult for that population to get back into the workforce. He says to get many benefits and to get job opportunities people have a much easier time when they have a home address.
King Banaian joins me every month on WJON to talk economics. Listen to today's conversation below.